Αυξημένο το αγοραστικό ενδιαφέρον στα ευρωπαϊκά χρηματιστήρια

Με κέρδη ολοκλήρωσαν την σημερινή συνεδρίαση τα περισσότερα ευρωπαϊκά χρηματιστήρια, μετά την απόφαση της ΕΚΤ να αυξήσει κατά 25 μονάδες βάσης το βασικό της επιτόκιο (περισσότερα εδώ), με τους επενδυτές να εκτιμούν ότι η αύξηση αυτή θα είναι η τελευταία στην παρούσα φάση.

Το θετικό κλίμα ενίσχυσαν και τα καλά μακροοικονομικά νέα που ανακοινώθηκαν (λιανικές πωλήσεις και επιδόματα ανεργίας) στις ΗΠΑ, με τις μετοχές του κλάδου εξόρυξης να καταγράφουν σημαντικά κέρδη μετά την άνοδο της τιμής του σιδηρομεταλλεύματος σε υψηλό πέντε μηνών, και με τις μετοχές του κλάδου ενέργειας, real estate, τραπεζών, και κοινής ωφέλειας να ακολουθούν.

Ο δείκτης Stoxx 600 έκλεισε στις 460,20 μονάδες με άνοδο 1,38%.

Στην Φρανκφούρτη ο δείκτης DAX έκλεισε στις 15.806,30 μονάδες με άνοδο 0,97%, μετατρέποντας το σήμα από strong sell σε buy, με την αντίσταση να βρίσκεται στις 16,144 μονάδες και την στήριξη στις 15.594 μονάδες.

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Στο Λονδίνο ο δείκτης FTSE 100 έκλεισε στις 7.673 μονάδες με άνοδο 1,95%, παραμένοντας με σήμα strong buy, με την αντίσταση να βρίσκεται στις 7.697 μονάδες και την στήριξη στις 7.528 μονάδες.

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Στο Παρίσι ο δείκτης CAC 40 έκλεισε στις 7.308,67 μονάδες με άνοδο 1,19%, μετατρέποντας το σήμα από strong sell σε strong buy, με την αντίσταση να βρίσκεται στις 7.438 μονάδες και την στήριξη στις 7.167 μονάδες.

Μεγαλύτερη άνοδος

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Recommendations

K+S: Already positive, the research from JP Morgan and its analyst Chetan Udeshi still consider the stock as a Buy opportunity. The target price is unchanged and still at EUR 22.

MTU: U.S. bank JPMorgan cut its price target for MTU to 235 euros from 265 euros, but kept its rating at “Overweight”. The cost of an unplanned overhaul of GTF engines turned out to be significantly lower than feared, analyst David Perry wrote in a research note presented Thursday. He did lower his estimates for cash generation (FCF) and is now applying lower valuation metrics due to the increased risk profile. However, the share still has 35 percent upside to the new target after its significant decline.

Kering: In his latest research note, analyst Carole Madjo confirms his recommendation. The broker Barclays is keeping its Neutral rating. The target price is set at 542 versus 553 EUR.

Richemont: In a research note, Barclays analyst Carole Madjo has maintained his recommendation on the stock with a Buy rating. The target price differs slightly and is now set at CHF 176 versus CHF 180.

Hermes: In his latest research note, analyst Carole Madjo confirms his positive recommendation. The broker Barclays is keeping its Buy rating. The target price differs slightly and is now set at EUR 2077 versus EUR 2095.

Rio Tinto: JP Morgan’s analyst Patrick Jones upgrades the rating on the company from Sell to Neutral. The target price is being increased from GBX 5440 to GBX 6000.

LVMH: Barclays’s research is revising its recommendation downwards to Neutral. The target price is reduced from EUR 932 to EUR 835.

BMW: Initially neutral on the file, Barclays via its analyst Henning Cosman is now advising to sell. The target price is decreased from EUR 107.50 to EUR 92.50.

Εταιρικά νέα

Trainline said revenue rose for the first half of fiscal 2024, driven by a 23% rise in net ticket sales, and that it is launching a share buyback program of up to 50 million pounds ($62.4 million) over the next 12 months. The U.K. company–which runs a digital platform for buying rail and bus tickets–said Thursday that for the six months ended Aug. 31 revenue rose to GBP197 million from GBP165 million the year before. Net ticket sales rose to GBP2.65 billion from GBP2.16 billion. The company said U.K. consumer net ticket sales rose 19% to GBP1.7 billion, reflecting the increase in people switching to digital ticketing. Growth was slightly tempered by the 11 days of industrial action in the country, which had an estimated gross ticket sales impact of GBP5 million to GBP6 million each strike day, Trainline said. The company backed its guidance fiscal 2024 of on-year net ticket sales growth of between 13% and 22%, and on-year revenue growth of between 13% and 22%.

Capricorn Energy said it expects full-year production to be in the lower end of its guided range, as its pretax loss narrowed in the first half of the year, and that it declared a special dividend. The U.K. oil-and-gas company said Thursday it expects its full-year production to be at the low end of its guided range of 32,000 to 36,000 oil-equivalent barrels a day, as a consequence of drilling fewer wells and weaker production performance in the half-year. The company said its pretax loss narrowed to $32.3 million in the half-year from $55.5 million in the prior-year’s similar period, while revenue fell to $98.8 million from $137.4 million. “The company is on its way to becoming a much leaner organisation, focused on tight cost control, shareholder returns and maximising value from our Egypt portfolio,” Chief Executive Randy Neely said. The company expects full-year net capital expenditure of $117 million to $127 million. Capricorn Energy declared a special dividend of 56 pence, expected to be paid on Oct. 20. It also targets a $25 million share buyback by the end of the year, with $15 million repurchased to date.

THG backed its 2023 adjusted Ebitda guidance despite reporting a widened pretax loss for the first half on the back of increased costs. The U.K. e-commerce company–known as the Hut Group–reiterated on Thursday its expectation to deliver 2023 adjusted earnings before interest, taxes, depreciation and amortization–the company’s preferred metric, which strips out exceptional and other one-off items–in line with the company-provided market consensus of 119.1 million pounds ($148.7 million). The company said it expects revenue growth of between minus 5% and 0%. For the first-half period, the group reported a pretax loss of GBP133.0 million compared with a loss of GBP108.2 million the same period a year ago. Revenue fell to GBP969.2 million from GBP1.07 billion. The company said adjusted Ebitda rose to GBP47.1 million from GBP32.3 million, ahead of its guidance. “Our strategy of supporting our consumers through 2022, sacrificing margins in the short-term, is bearing fruit,” it added.

M&C Saatchi has reported a swing to first-half pretax loss after booking higher charges and on lower revenue, as guided for in June. The U.K. advertising company said Thursday that given the challenging macro environment it views the second half of the year with caution. For the half year ended June 30 the company made a pretax loss of 5.06 million pounds ($6.3 million) compared with a profit of GBP305,000 for the comparable period a year earlier. Revenue for the period slipped to GBP216.7 million from GBP221.7 million but is marginally ahead of this time last year with 85% of full year expected revenue booked, it said. Headline operating profit margin for the first half-year was 8.3% compared with 14.0%, although this was 12% in the second quarter, the company said adding that it has experienced good margin momentum going into second half with acceleration of new operating model. “The second half of the year is about growth, execution, and efficiency. Whilst some economic headwinds are likely to continue, we are focused on what we can control: continued connectivity of our business, elevating our highest-margin businesses in resilient segments, underpinned by tight cost management,” Chair Zillah Byng-Thorne said.

Volvo said Thursday that it has entered a long-term purchase agreement with H2 Green Steel for near-zero emission steel that the truck maker will use to build its commercial vehicles. Volvo said steel is one of the main materials in the manufacturing of trucks, buses and construction machines so the agreement with H2 Green Steel is another step towards it target for net zero greenhouse gas emissions in its value chain by 2040. H2 Green Steel is building a plant in northern Sweden and plans to produce steel by replacing coal with green hydrogen that is produced using fossil-free energy, reducing carbon-dioxide emissions by up to 95% compared with traditional steelmaking. It plans to begin producing steel under the Volvo contract at the end of 2025 with deliveries starting mid-2026. “A commitment set by the First Movers Coalition, of which Volvo Group is a founding member, is to have at least 10% of all steel purchased per year to be near zero emissions by 2030,” Volvo said. “Supply agreements such as this are important contributions towards accelerating the transition towards net zero.”

IG Group Holdings said its revenue edged up slightly over the first quarter of fiscal 2024 as softer performance for over-the-counter derivatives was offset by growth in exchange traded derivatives and stock trading, and said it is confident in achieving its mid-term targets. The online-trading company on Thursday reported revenue of 242.9 million pounds ($303.4 million) for the three months ended Aug. 31, compared with GBP241.8 million for the same period the previous year. The London-listed group said revenue within its core markets fell 6% on-year on softer market conditions though client money balances remained stable at GBP4.1 billion. Revenue within its high potential markets was up 30%, it said. It noted that lower net trading revenue over the quarter was due to lower volatility across asset classes, adding this was more than offset by strong interest income growth.

Thyssenkrupp said on Thursday that it will reorganize its portfolio and combine business units with key technologies useful for the decarbonization of industry, while also launching a group-wide performance program. On Oct. 1, Thyssenkrupp Rothe Erde, Thyssenkrupp Nucera, Uhde and Polysius will be combined into the new Decarbon Technologies segment, the German industrial company said. The new segment will have around 15,000 employees, and in fiscal 2022 the combined units generated around 3 billion euros ($3.22 billion) in sales, Thyssenkrupp said. Thyssenkrupp chief executive will manage the new segment, the company said, adding that the Multi Tracks and Industrial Components segments will be dissolved. Thyssenkrupp will be comprised of its Automotive Technology, Decarbon Technologies and Materials Services segments, as well as the Steel Europe and Marine Systems units, which are still intended to be spun off, the company said. In addition, the company said that it is rolling out a performance program, “Apex”, to help achieve the financial targets disclosed during its capital markets day in December 2021. The company said that it aims for an adjusted earnings before interest and taxes margin of 4% to 6% in the medium term, a significantly positive free cash flow figure before mergers and acquisitions, and a continued reliable dividend payment for shareholders.

Τα παραπάνω εκφράζουν προσωπικές απόψεις, και σε καμία περίπτωση δεν αποτελούν προτροπή για αγορά, πώληση ή διακράτηση οποιασδήποτε κινητής αξίας.